CRM
Salesforce, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Salesforce, Inc..
Coverage
In February We Named Three Companies That Would Answer the AI Demand Question. Salesforce Is the One We Never Wrote.
Salesforce's revenue growth bottomed at 7.6% and has re-accelerated to 13.3%, its fastest in thirteen quarters, with trailing free cash flow of $14.66B on $42.83B of revenue. Our own Rule of 40 score for the company moved 56 points over those same four quarters and is the worst available place to read any of it — the trailing figure moved five.
Johnson & Johnson's P/E Went 31 to 11 to 23 Without the Market Changing Its Mind. We Published a Chart Doing the Same Thing.
One outsized quarter distorts a trailing P/E twice — once when it arrives, and again four quarters later when it leaves. The second one is invisible, and our own Palo Alto coverage reasoned from it.
All Software Stocks Under Pressure
Market believes AI threatens entire industry; infrastructure vendors accelerated growth in Q3 25—enterprise not building own solutions.
Earnings release dates
| Quarter | End date | Publication date | Release |
|---|---|---|---|
| 2026 Q3 | 2026-07-31 | 2026-09-02 | Details → |
| 2026 Q2 | 2026-04-30 | 2026-05-27 | Details → |
| 2025 Q4 | 2025-10-31 | 2025-12-03 | Details → |
| 2025 Q3 | 2025-07-31 | 2025-09-03 | Details → |
| 2025 Q2 | 2025-04-30 | 2025-05-28 | Details → |
| 2025 Q1 | 2025-01-31 | 2025-02-26 | Details → |
| 2024 Q4 | 2024-10-31 | 2024-12-03 | Details → |
| 2024 Q3 | 2024-07-31 | 2024-08-28 | Details → |
| 2024 Q2 | 2024-04-30 | 2024-05-29 | Details → |
| 2024 Q1 | 2024-01-31 | 2024-02-28 | Details → |
| 2023 Q4 | 2023-10-31 | 2023-11-29 | Details → |
| 2023 Q3 | 2023-07-31 | 2023-08-30 | Details → |
| 2023 Q2 | 2023-04-30 | 2023-05-31 | Details → |
| 2023 Q1 | 2023-01-31 | 2023-03-01 | Details → |
| 2022 Q4 | 2022-10-31 | 2022-11-30 | Details → |
| 2022 Q3 | 2022-07-31 | 2022-08-24 | Details → |
| 2022 Q2 | 2022-04-30 | 2022-05-31 | Details → |
| 2022 Q1 | 2022-01-31 | 2022-03-01 | Details → |
| 2021 Q4 | 2021-10-31 | 2021-11-30 | Details → |
| 2021 Q3 | 2021-07-31 | 2021-08-25 | Details → |
| 2021 Q2 | 2021-04-30 | 2021-05-27 | Details → |
| 2021 Q1 | 2021-01-31 | 2021-02-25 | Details → |
| 2020 Q4 | 2020-10-31 | 2020-12-01 | Details → |
| 2020 Q3 | 2020-07-31 | 2020-08-25 | Details → |
| 2020 Q2 | 2020-04-30 | 2020-05-28 | Details → |
| 2020 Q1 | 2020-01-31 | 2020-02-25 | Details → |
Company History
Founded on March 8, 1999, by Marc Benioff and others as a SaaS company, with the first prototype launched in November 1999.
Went public on the NYSE in June 2004 under symbol CRM, raising US$110 million.
Passed $1 billion in annual revenue and launched Service Cloud for managing customer service conversations.
Announced Einstein, an artificial intelligence platform supporting cloud services, including a licensing deal for Albert Einstein
Announced $27.7 billion acquisition of Slack in December 2020, completed in July 2021, to integrate messaging with CRM.
Changed legal name from Salesforce.com, Inc. to Salesforce, Inc. in April 2022; surpassed SAP to become the world\
Laid off about 10% of staff (8,000 positions) in January 2023 due to over-hiring during the pandemic.
Launched Agentforce AI platform, betting heavily on autonomous AI agents for enterprise.
Pivoted away from AI agents after struggles with complex service; cut 4,000 support jobs, moving to
Key Players
showing 6 of 23 · see all leadership & board
